Car insurance is a necessity in Minnesota, but you can significantly lower your rates by shopping around. A variety of factors contribute to the price of your premium, including age, driving record and location. Additional savings opportunities exist by increasing deductible amounts or bundling home and auto policies with one provider. Use one of the calculators below to estimate how much monthly car premium you owe in Minnesota.
Minnesota requires drivers to carry minimum liability, personal injury protection (PIP), uninsured/underinsured motorist coverage and collision coverage policies. Unfortunately, this amount may not provide enough protection should there be an accident; thus it’s essential that you determine how much of a risk you’re willing to take and then consult an agent or company about the best solutions for you and your unique situation.
Typically, older vehicles cost less to insure due to depreciating value and therefore less claims that need to be filed by insurance companies. Still, make sure it is properly maintained and equipped with safety features for maximum efficiency and peace of mind.
Minnesota car insurance premiums tend to increase for drivers who have had incidents on their record due to insurers assuming these drivers will file more claims, leading them to increase premiums later.
Minnesota car insurance rates can often be reduced by decreasing coverage levels or purchasing high-risk policies through USAA and Auto-Owners. You could also save money by increasing the deductible payment and searching for discounts that might apply, such as being a student or military veteran.
No matter your age or location, it’s essential that you look back over your driving history to determine whether there are ways you could enhance the safety of driving. If you have received multiple speeding tickets or have been involved in at-fault accidents, a safe driving program may qualify you for a Minnesota car insurance discount. Shop around regularly and compare premiums across providers; premiums may differ significantly between companies. That way, you can select a plan that best meets both your driving and budget needs and rest easy knowing you have enough coverage in case of an accident or other disaster.